Oral Typhoid Vaccine Market Estimated to Witness High Growth Owing to Rising Disease Prevalence
Oral typhoid vaccine is a type of vaccine given orally to help prevent typhoid fever. Typhoid fever is a life-threatening illness caused by the bacterium Salmonella Typhi. Symptoms of typhoid fever vary but can include sustained high fevers, weakness, stomach pains, headache, loss of appetite, and rash. This vaccine provides protection against typhoid fever caused by Salmonella typhi and helps prevent the spread of the disease. The global oral typhoid vaccine market is estimated to be valued at US$394.62 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics: Rising disease prevalence coupled with increasing awareness regarding benefits of vaccination are the key factors driving the growth of the oral typhoid vaccine market. According to WHO, typhoid causes over 20 million illnesses and 200,000 deaths worldwide each year. Children under the age of 5 are more prone to this disease due to lack of hygiene and sanitation in developing and underdeveloped regions. Growing awareness about health and hygiene preventive measures, such as vaccination programs supported by governments and non-profit organizations is encouraging more population to opt for vaccination. Typhoid vaccines help in controlling the spread of disease and reduce the burden of illness and antibiotic resistance. However, limited access and availability of vaccine especially in remote areas hampers the market growth. Rapid urbanization with overcrowding facilitates the spread of disease especially in developing countries. This emphasizes the need for vaccination programs to combat the disease effectively.
SWOT Analysis
Strength: The oral typhoid vaccine market is growing at a rapid pace due to the rising incidence of typhoid fever cases globally. The oral vaccine offers convenience of administration compared to injectable vaccines. Many companies are engaged in research and development of improved oral typhoid vaccines.
Weakness: Currently, the available oral typhoid vaccines have moderate efficacy rates. They may require multiple doses or booster doses for sustained protection. The vaccines also have limited therapeutic applications.
Opportunity: Governments of various developing countries are supporting immunization programs to control typhoid fever through vaccination. This is creating demand for affordable oral typhoid vaccines. Companies can invest in innovations to develop vaccines with higher efficacy in single dose regimen.
Threats: Potential emergence of antibiotic-resistant Salmonella serotypes poses challenges in typhoid prevention and treatment. Other competing infectious diseases can divert healthcare attention and resources away from typhoid immunization in resource-poor settings.
Key Takeaways
The global oral typhoid vaccine market is expected to witness high growth in the forecast period due to rising disease prevalence in developing and tropical regions.
Regional analysis: Asia Pacific region has emerged as the largest and fastest growing market for oral typhoid vaccines. Countries like India, Pakistan and Indonesia have high typhoid incidence and ongoing typhoid control initiatives through vaccines. Government programs provide procurement assurance for vaccine manufacturers in these developing nations.
Key players: Major players like Sanofi Pasteur, Bharat Biotech and Pfizer Inc dominate the global oral typhoid vaccine market. Sanofi Pasteur’s live attenuated Ty21a vaccine, Bharat Biotech’s live Ty21a vaccine and Pfizer’s new capsular Vi-CRM197 conjugate vaccine are the widely used oral typhoid vaccines. Other emerging companies like Biological E and Zydus Cadila are developing affordable typhoid vaccine options for low and middle-income countries. Increased research collaborations can further help companies strengthen their market presence.
